Programme Resolution definition

Programme Resolution has the meaning given to it in Condition 13 (Meetings of Covered Bondholders, Modification, Waiver and Substitution);

Programme Resolution means either:

Programme Resolution. ’ means any Resolution directing the Common Representative to accelerate the Covered Bonds pursuant to Condition 9 (Insolvency Event and Enforcement) or directing the Common Representative to take any enforcement action and which shall only be capable of being passed at a single meeting of the holders of Covered Bonds of all Series then outstanding.

Examples of Programme Resolution in a sentence

• The quorum at any such meeting in respect of any Series for passing an Extraordinary Resolution (other than a Programme Resolution to be taken by an Extraordinary Resolution) is: one or more persons holding or representing not less than seventy-five (75) per cent.

• A Programme Resolution will be binding on all Covered Bondholders including Covered Bondholders who did not attend and vote at the relevant meeting and Covered Bondholders who voted in a manner contrary to the majority.

• Any such meeting to consider a Programme Resolution may be convened by the Issuer, the CBC or the Security Trustee or by Covered Bondholders of any Series.

• Notwithstanding the preceding paragraphs of this Condition 15 (Meetings of Covered Bondholders, Modification and Waiver), any resolution to direct the Security Trustee (i) to accelerate the Covered Bonds pursuant to Condition 10 (Events of Default and Enforcement);(ii) to take any enforcement action, or (iii) to remove or replace the Security Trustee's Director shall only be capable of being passed by a Programme Resolution.

• A validly adopted Programme Resolution and Extraordinary Resolution will be binding on all Covered Bondholders and Couponholders of all Series (in the case of a Programme Resolution) or the relevant Series (in the case of an Extraordinary Resolution), including Covered Bondholders and Couponholders who did not attend or vote at the relevant meeting and Covered Bondholders who voted against such Programme Resolution or Extraordinary Resolution, as applicable.

More Definitions of Programme Resolution

Programme Resolution means an Extraordinary Resolution passed at a single meeting of the Covered Bondholders of all Series, duly convened and held in accordance with the provisions contained in these Rules (ii) to direct the Representative of the Covered Bondholders to take action pursuant to Condition 12(b)(ii)(c) (Effect of an Issuer Default Notice – Covered Bond Guarantee), Condition 12(c)(iii) (Guarantor Event of Default – Breach of other obligation) or Condition 12(d)(iv) (Guarantor Event of Default – Enforcement) or to appoint or remove the Representative of the Covered Bondholders pursuant to Article 26 (Appointment, Removal and Remuneration); or (ii) to direct the Representative of the Covered Bondholders to take other action stipulated in the Conditions or the Transaction Documents as requiring a Programme Resolution.

Programme Resolution means either: a written resolution of the holders of not less than fifty (50) per cent. of the Principal Amount Outstanding of the Covered Bonds then outstanding as if they were a single Series; or an Extraordinary Resolution (with the Covered Bonds of all Series taken together as a single Series);

Programme Resolution has the meaning ascribed to it in Schedule 1 to the Trust Deed.

Programme Resolution means an extraordinary resolution passed at a single meeting of the Bondholders of all Series, held in accordance with the provisions contained in Rules.

Programme Resolution means an Extraordinary Resolution passed at a single meeting of the Covered Bondholders of all Series, duly convened and held in accordance with the provisions contained in these Rules (ii) to direct the Representative of the Covered Bondholders to take action pursuant to Condition

Programme Resolution means any Resolution directing the Common Representative to accelerate the Covered Bonds pursuant to Condition 9 (Events of Default and Enforcement) or directing the Common

Programme Resolution means any resolution passed at a meeting duly convened and held in accordance with these Rules and with respect to matters referred to under Article 6.3;